Phillips 66 buys Beaumont crude, product terminal

The Beaumont terminal is strategically located on the US Gulf Coast. It provides deep-water access with major crude oil and refined product pipelines serving 3.6 million bpd of refining capacity.

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Phillips 66 has agreed to purchase a 7.1 million-bbl storage
capacity terminal located near Beaumont, Texas, the company
announced on Friday.

The Beaumont Terminal will be the largest terminal in the
Phillips 66 portfolio.

This acquisition supports our midstream growth
strategy, said Tim Taylor, president of Phillips 66.
Given our expectations for increasing volumes of North
American crude oil movements into the Gulf Coast region and
growth in refined product exports, the Beaumont Terminal is
well positioned to serve this growing market while providing
significant expansion potential.

The Beaumont Terminal is strategically located on the US Gulf
Coast. It provides deep-water access and multiple
interconnections with major crude oil and refined product
pipelines serving 3.6 million bpd of refining capacity. The terminal
also has: